Saudi Boosts Hormuz Oil Exports; AI Trade Roars Back, $12B Maldives Property Deal
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Saudi Arabia boosts oil exports through the Strait of Hormuz as oil prices fall toward $100, with diplomacy and improved flows easing supply concerns. The UK plans to provide Saudi Arabia with defensive support against the Houthis, while Goldman Sachs flags the risk of oil reaching $120. Libya’s Sharara oil output falls by more than half. The AI trade roars back as Asian stocks rally on optimism around Meta’s AI agents, with Meta’s Muse driving gains in AI chip stocks. Taiwan’s TAIEX reaches an intraday record, Alibaba unveils a new AI chip to compete with Nvidia, and Korean chip stocks lift the won for a second day. Bitcoin retreats from an eight-month high, while the yen weakens for a third day as Japan remains on holiday. The US and China wrap up a second day of trade talks as negotiations continue. African central banks are expected to keep interest rates high amid risks from the Middle East war and US policy, with Nigeria and Morocco set to announce rate decisions Tuesday. In the
Tags: Abeer Abu Omar, Africa, Bloomberg, Bloomberg News, Bloomberg TV, Bloomberg Television, Brent Crude, China, Donald Trump, Economy, Egypt, Goldman Sachs Group Inc., Iran, Israel, JPMorgan Chase & Co., Luke Barrs, Middle East, Mideast, Nigeria, Oil
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